1798 10C Large 8 MS64 NGC. CAC.JR-4, R.3. The
central design motifs are soft, as are the stars along the left
obverse border, but most peripheral details are sound. The obverse
and reverse surfaces are only a few tiny ticks away from
perfection. Both sides exhibit incredible gold luster with
lavender, blue, and iridescent toning. A highly appealing near-Gem
for the connoisseur of coin dates or types.
Die State. This is the latest known die state for 1798 JR-4,
with a crack from Y to the nose that now continues through the
right obverse field and between stars 11 and 12 to the border. The
continuation of the obverse crack was unrecognized by the dime book
authors. The reverse has a heavy break from the second wing feather
to the border between D and S, with rim crumbling almost continuous
from D to the first S. Additional rim crumbling is nearly
continuous from the final S to the F.
Condition Census. Most likely high in the Condition Census for
the variety, this piece is apparently the finest known example of
the terminal die state.
Appearances. Plated in the 1982 Paramount catalog and in
Auction '85.
Obverse Die. The date is widely spaced with the 1 well below
the curl, and the 8 about centered between the drapery and border.
The 1 is complete with a full base. LIBERTY is widely spaced
with LIB slightly closer than other letters. Stars 1 and 7 are
distant from the hair and L, while stars 8 and 13 are close to Y
and the drapery. Star pairs 1-2, 3-4, 8-9, and 9-10 are closer than
other star pairs.State a. Perfect die, may not exist. State b. Cracked
from the Y to the nose. State c. An additional crack from
the eye joins the State b crack. State d. A crack develops
from the chin down toward star 13. State e. A crack connects
the Y to stars 8 through 11. State f. The state b crack
continues to the right obverse border.
Reverse Die.The branch has five berries, diagnostic for
1798. The reverse has 13 stars with six in the top row. Star 12
joins the scroll over the left top of the U, and nearly touches the
lower beak. All letters in the legend are separated, with ME
extremely close. The outside arrow ends under the right curve of
the U in UNITED. A leaf is solidly joined to the right base of
I.State a. Perfect die, may not exist. State b. The
reverse is cracked from the second feather of the left wing to the
border. State c. Various stages of rim crumbling develop as
the die is used.
Heritage Commentary. The order that 1798 JR-3 and JR-4 were
coined is believed the same order as their variety numbers. The
reverse die was used for the 1798 BD-2 quarter eagle and the 1800
JR-1 dime. It is believed that the quarter eagles were coined
first, followed by the 1798 JR-4 dimes, and finally the 1800 JR-1
dimes. Reverse die states support this emission order. In addition,
see our commentary regarding delivery dates.

John Dannreuther writes in Early U.S. Gold Coin Varieties
that the 1798 BD-2 quarter eagles were delivered on December 28,
1799, under Warrant 149. Since the only delivery of dimes in 1798
or 1799 was 27,550 coins delivered on July 23, 1798, it was
impossible for the 1798 JR-4 dimes to be included as part of that
delivery, unless Dannreuther's speculation is incorrect. More
likely, in fact almost certainly, the 1798 JR-4 dimes were actually
coined early in 1800, and delivered in March of that year.
Carefully analysis of delivery dates for all early dimes and
quarter eagles may help pinpoint the exact emission sequence for
these coins.
Consignor Commentary. This is the finest late die state piece
and almost surely within the Census for the variety.
Provenance.Paramount (5/1982), lot 905; Auction '85
(RARCOA, 7/1985), lot 95; Julian Leidman (1/2004).
From The Ed Price Collection.(Registry
values: P6) (NGC ID# 236E, PCGS# 4466)